September 27, 2013
California Court Held That State Law Did Not Require Possession of the Note as a Precondition for Initiating a Foreclosure Sale
The Los Angeles County Superior Court in deciding Linares, et al. v. JLM Corporation, et al., No. YC060372 (2009), after considering the plaintiff’s contentions, rejected them in favor of the defendant’s argument. In accepting the defense’s argument, the court held that California law did not require the possession of the original note as a precondition for initiating a foreclosure sale.
Additionally, the court found that under California law, an “allegation that the trustee did not have the original note or had not received it, is insufficient to render the foreclosure proceeding invalid.”
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